Bitcoin just broke through $120k and hit the highest level since August. The catalyst? Weak U.S. labor data is fueling rate cut expectations from the Fed, which is basically printing money for risk assets like BTC.

Here's what traders are watching:

**Short-term setup**: If momentum holds, BTC could hit $122k-$138k this month. Key resistance zones are $127k and $137k. RSI and MACD are your friends here for timing entries/exits.

**The safe play**: Long-term holders should set stops below $117k. Medium-term traders eyeing a multi-week hold above $122k could target $127k-$137k.

**Why now?** Macroeconomic weakness = Fed pivot narrative = money flowing into Bitcoin. Whether this runs to $138k or pulls back to $117k depends on what the Fed signals next.

For the risk-takers: Bitcoin futures and related ETFs offer leverage play during volatile periods like this. Just remember—volatility cuts both ways.